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Santa Rosa County/Milton/32583

32583

ZIPSAFMR
Santa Rosa County, FL
Zillow

ZIP Investment Score

109Above average

095130300
BRFMR
Eff. Rent
0 BR$1,160$1,280
1 BR$1,360$1,480
2 BR$1,550$1,570
3 BR$2,040$1,840
4 BR$2,440$2,340
5 BR$2,806Not available
6 BR$3,227Not available
7 BR$3,711Not available
8 BR$4,268Not available

Purchase Price Calculator

Maximum purchase price
$171,385

Cost breakdown

+Likely effective rent$1,570
HUD FMR$1,550
Market rent$1,580
Est. payment standard (101%)Used$1,570
-Principal and interest-$867
Loan amount$137,108
Down payment$34,277
Rate6.50%
Term30 years
-Operating costs-$503
Property taxes-$171
Insurance-$175
Utilities$0
HOA$0
Management-$157
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$25,290(73.8% ROI)
Projected value
$184,563
Return breakdown
Property appreciation+$13,178
Loan principal paid down+$4,912
Rental cash flow+$7,200
5-year hold
+$43,281(126.3% ROI)
Projected value
$193,906
Return breakdown
Property appreciation+$22,521
Loan principal paid down+$8,760
Rental cash flow+$12,000
10-year hold
+$92,875(271.0% ROI)
Projected value
$219,387
Return breakdown
Property appreciation+$48,002
Loan principal paid down+$20,873
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.72
1 BR
0.88
2 BR
0.98
3 BR
1.11
4 BR
1.04
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 32583 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 32583 (Milton, FL) is $1,550 a month. That is up 4.0% from $1,490 in FY 2026. Milton is in the Pensacola-Ferry Pass-Brent, FL MSA. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,548. Among 13 ZIP codes in Santa Rosa County, 32583 is tied for the 10th-highest two-bedroom rent (county range $1,330–$2,170). The median county two-bedroom FMR in Florida is $1,474, so ZIP 32583 is 5% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 32583
BedroomsFY 2027Change90–110% range
Studio$1,160+2.7%$1,044–$1,276
1BR$1,360+7.1%$1,224–$1,496
2BR$1,550+4.0%$1,395–$1,705
3BR$2,040+3.0%$1,836–$2,244
4BR$2,440+1.7%$2,196–$2,684

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 32583
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,160$1,360$1,550$2,040$2,440
FY 2026$1,130$1,270$1,490$1,980$2,400
FY 2025$1,220$1,360$1,610$2,150$2,650
FY 2024$1,030$1,080$1,260$1,720$2,140
FY 2023$970$1,010$1,170$1,630$1,990

Two-bedroom rent in nearby Santa Rosa County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 32583
32531$1,610+3.9%
32561$1,870+20.6%
32562$1,780+14.8%
32563$2,030+31.0%
32564$1,610+3.9%
32565$1,330−14.2%
32566$2,170+40.0%
32569$1,880+21.3%
32570$1,560+0.6%
32571$1,510−2.6%
32572$1,780+14.8%
32583Current$1,550—

Questions about ZIP 32583 rents

How much will Section 8 pay for a two-bedroom in ZIP 32583?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,548, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,393 to $1,703 a month; under the ZIP-level Small Area FMR of $1,550 it would be $1,395 to $1,705. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 32583 in?

ZIP 32583 is in the Pensacola-Ferry Pass-Brent, FL MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,548.

How much did fair market rent change in ZIP 32583 for FY 2027?

The two-bedroom FMR rose 4.0%, from $1,490 in FY 2026 to $1,550 in FY 2027. Since FY 2023 it has risen 32.5%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentMilton, FL fair market rentFL statewide rentsWhat is SAFMR?Data sources